Khalifa Fund for Enterprise Development and Kuwait’s National Fund for SME Development have discussed ways of collaboration, coordination and exchange of experiences to support and promote Small and Medium Enterprises (SMEs) in both countries.
This came during a meeting between Hussain Jassim Al Nowais, Chairman of Khalifa Fund for Enterprise Development and Mohamed Munther Al Zuhair, Chairman of the Kuwait’s National Fund for SME Development and the delegation accompanying him.
Speaking on the occasion Al Nowais said, “Khalifa Fund has achieved many accomplishments, such as spreading the awareness among youths about the importance of entrepreneurship and encouraging innovation and creativity. It has also contributed effectively in creating suitable environment for the growth and development of SME sector in UAE.” “The Fund successfully managed the financial, technical and training needs for the entrepreneurs which enabled many of them to start promising and distinct projects. The Fund developed a unique business model in the region, that gives direct funding services as well as wide patch of supporting services in various stages of the projects.” He added, “The Fund has a successful and rich experience, and we are willing to cooperate with our brothers in Kuwait to take advantage of their pilot experience. The Fund benefited from many regional and international experiences in the field of supporting SMEs, removal of all obstacles they might face to enable them to grow which serves the economy of Abu Dhabi.” Mouza Obaid Al Nasseri, Acting Chief Operating Officer in Khalifa Fund presented the Fund’s goals and programmes and said, “The Fund provides integrated and comprehensive programmes to meet the needs and requirements of entrepreneurs during their efforts to establish or expand their businesses. This includes training and development, vocational rehabilitation and providing data and consulting services as well as improving several initiatives in marketing.” “The Fund provides different financial solutions with low rate profit for the feasible projects that serves the national economy through Khutwa, Bedaya, Zeyada and Tasneea programmes as well as Zaarie and some other social programs such as Sougha.” “Since its establishment the Fund has given finance of about AED 1.12 billion for about 880 projects in different sectors all over the UAE,” explained Al Nasseri.
Mohammed Munther Al Zuhair, Chairman of Kuwaiti National Fund for SME Development praised Khalifa Fund’s experience in the field of spreading the spirit of entrepreneurship among the Emiratis and the development of small and medium enterprises in the country.
He stressed on the Fund’s achievements which represents an integrated experience, saying,”The most important characteristic of its experience is creating the balance between the social development as well as the economic development through different programmes, that meets the various needs of the entrepreneurs. We hope to open new horizons and broader cooperation between both Funds in the near future to achieve the common goals.”
Source : WAM News Agency for United Arab Emirates
